Pertamina NRE to support Bangladesh’s energy transformation

State-owned power utility Pertamina’s subsidiary Pertamina New & Renewable Energy (Pertamina NRE) and Coal Power Generation Company Bangladesh Limited (CPGCBL) have signed a memorandum of understanding (MoU) for a 500 MW grid-connected solar PV project located in Moheshkhali district of Cox’s Bazar in Bangladesh and other parts of the country.

The MoU, which is subject to the results of a feasibility study, also covers the establishment of support facilities and lays the groundwork for additional cooperative ventures based on mutually agreed terms. The MoU is a continuation of the G2G MoU signed between Indonesia and Bangladesh in 2017.

The MoU, which is a significant step towards enhancing sustainable energy solutions and developing renewable energy infrastructure in Bangladesh, was signed by Abul Kalam Azad, Managing Director of CPGCBL, and Fadli Rahman, Acting CEO of Pertamina NRE, at a ceremony held on July 15, 2024, at the Intercontinental Hotel.

“We are very pleased with the signing of the agreement between CPGCBL and Pertamina NRE. I believe that this partnership is the foundation of cooperation that will not only enhance our operational capabilities, but also promote growth, innovation, mutual success, and support the national energy security of Bangladesh,” said Pertamina NRE Chief Financial Officer Nelwin Aldriansyah, quoted on Tuesday, July 16, 2024.

“This MoU will go a long way in helping us achieve the Integrated Energy and Power Master Plan (IEPMP) target for renewable energy,” said CPGCBL Senior Secretary (Energy), Habibur Rahman.

Coal Power Generation Company Bangladesh Limited (CPGCBL), a Government of the People’s Republic of Bangladesh undertaking, was established in 2011. As per the Memorandum of Association, the undertaking is required to undertake activities for the construction of power plants in line with the Bangladesh Private Power Sector Policy, Public Private Partnership (PPP) Policy or any other government policy framework.

PT Pertamina Corporate Communications Vice President Fadjar Djoko Santoso said the partnership is one of Pertamina’s initiatives aimed at the company’s global expansion.

“We support this expansion, which is in line with Pertamina NRE’s competence in new and renewable energy. As a subholding, Pertamina NRE demonstrates its commitment to independently scaling up its business,” Fadjar said.